Luxury apparel retailer Brooks Brothers – which survived the Civil War, the Great Depression and World War II – filed for bankruptcy.
Years of falling sales and an unstable financial situation, shoppers buying casual clothes online – everything gradually worsened the position of the world-known American suit maker.
A private company has experienced difficulties over the past few years. Finally, it was destroyed by the coronavirus pandemic, which resulted in catastrophic drop in demand for business suits. Employees working from home remotely preferred wearing simple apparel – now all wear T-shirts and sweat pants or pajama bottoms instead of striped suits and shirts.
The one of the oldest apparel brands in the country, Brooks Brothers started as a small family atelier and became one of the most prestigious brands of men’s business apparel. This legendary brand with a 200-year success story behind 40 American presidents and countless Wall Street investment bankers plans to close 51 stores and has already permanently shuttered some of these locations as it looks for a buyer.
Hopefully, that this is a case of a failed company, not a failed brand as it will survive and continue exist for many years in a different form.
